In Morocco, CDG Développement banks on offshoring and seaside resorts
The company, controlled by Morocco’s state-owned fund Caisse de Dépôt et de Gestion, is continuing its efforts to attract foreign investment in key sectors of the country’s economy. For the time being, CDG Développement is grappling with a liquidity shortage owing to its substantial investments, as well as a reclassification of assets and losses of a real estate subsidiary.
23/06/2020 at 17h25, by Tarik Bargal
At 31 December 2019, Caisse de Dépôt et de Gestion (CDG) set aside a provision of 222.3m Moroccan dirhams (€20m) to offset the reduction in the share capital of CDG Développement, the holding company over which CDG has exclusive control and whose capital fell to 23.14bn dirhams (€2.13bn) on account of recurring losses.
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